Dubai is a land of opportunities for real estate investors as the city announces new project launches in 2017. Inexperienced property buyers purchasing directly with a property developer without consulting a real estate agent is a risky search method. Real estate agents objectively present properties based on the client's interests whereas property developers only offer their projects. A free consultation from a real estate agent boosts client awareness on the finest projects among developers. This article lists the disadvantages if purchasing property directly from a developer followed by the advantages when consulting a real estate agent in Dubai.
Advantages of Purchasing Directly From a Real Estate Specialist
Purchasing property directly through a property developer is disadvantageous for real estate clients in Dubai. Property developers are solely interested in selling their projects, limiting the client’s ability to compare different projects by competing developers. A developer will not recommend a competing developer’s project even if the project is more suitable for the client. A qualified real estate agent can explain the advantageous and disadvantageous of a variety of properties by different developers. Agents knowledgeable of new project launches by major property developers Emaar Properties, Dubai Properties ,Damac Properties and others will boost client awareness on the most valuable projects in the market. Agents work meticulously to satisfy their clients, hoping the client seeks to rent or resell the property.
An agent’s consultation aims to understand the long-term financial goals of the client and develop an investment plan. Agents study project developments, market supply & demand, developer reputation, floor plans and property locations. Understand the client and agent’s interest are the same because an agent’s future income relies on referrals and returning clients seeking to reinvest in the market. The agent fulfils total management of the transaction process, searching the best promotions offered by developers, negotiating prices, securing the best finances and interest rates on behalf of the buyer’s interest. Developers regularly seek the expertise of real estate agents on consumer demands and trends in the market. Clients should likewise consult a real estate agent before purchasing a property.
The Misconception Agents Charge Extra Commission
Home buyers will not pay extra when purchasing property through a real estate agent.The misconception real estate agents charge extra commission is why buyers are purchasing directly from developers. There is no added advantage to purchasing a home directly with a property developer. Buyers should understand a real estate agent’s goal is satisfying their client’s needs. An unsatisfied client will negatively reflect on the agent and the agency. Agencies cannot afford negative reviews since Dubai’s real estate market is highly competitive.
Real Estate Requires Extensive Research
Any investment option will have advantages and disadvantages. One of the keys to finding the right property for you is research: learning as much as possible about the property market, demographics, macro and micro economic conditions that affect the market. Clients working without an agent must conduct extensive research to keep up with current events and developments within the market. The extensive research required is one factor why investors hire a real estate agent. Getting expert assistance from an agent, who has a dedicated team of researchers, helps a client evaluate where to place their capital.
Work with an Experienced Agency
Real estate customers should seek an established agency with experience operating through fluctuations in the real estate market. At fäm Properties, our agents can identify the direction of the market after having worked through Dubai’s 2009 crisis. Agencies with a large sales team have more experts capable of advising on different projects. Why purchase property directly with a developer when real estate companies possess a team of experts able to advise and research new projects? Hiring a real estate agent is always the most secure search method to purchase property in Dubai, providing a higher probability to reinvest in future projects.
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